Money laundering is the process of illegally concealing the origin of money obtained from illicit activities (often known as dirty money) such as drug trafficking, sex work, terrorism, corruption, and embezzlement, and converting the funds into a seemingly legitimate source, usually through a front organization. Money laundering is ipso facto illegal; the acts generating the money almost always are themselves criminal in some way (for if not, the money would not need to be laundered). As financial crime has become more complex and financial intelligence is more important in combating international crime and terrorism, money laundering has become a prominent political, economic, and legal debate.
Two members of the Bank of Credit and Commerce International plead guilty to money laundering
Money laundering is the process of illegally concealing the origin of money obtained from illicit activities (often known as dirty money) such as drug trafficking, sex work, terrorism, corruption,...
Events Before
Fall of the Berlin Wall
The Berlin Wall falls as East Germany opens its borders, symbolizing the end of the Cold War and the beginning of German reunification.
Year of the Young Reader begins
Batman Begins is a 2005 superhero film based on the DC Comics character Batman. Directed by Christopher Nolan, who co-wrote the screenplay with David S.
British comedy sketch series "A Bit of Fry and Laurie", starring Stephen Fry and Hugh Laurie, debuts on BBC1
A Bit of Fry & Laurie is a British sketch comedy television series written by and starring former Cambridge Footlights members Stephen Fry and Hugh Laurie, broadcast on both BBC1 and BBC2 between…
Poland's communist government begins "Round Table" talks with the Solidarity trade union and its leader Lech Wałęsa in a
Poland's communist government begins "Round Table" talks with the Solidarity trade union and its leader Lech Wałęsa in an attempt to ease growing social unrest
NBA power forward Charles Barkley (26) weds legal aide Maureen Blumhardt in Elkton, Maryland
NBA power forward Charles Barkley (26) weds legal aide Maureen Blumhardt in Elkton, Maryland
Events After
Peter Burling is born
Peter Burling, New Zealand athlete, known for new zealand sailor, was born on 1991-01-01. Peter Burling is a New Zealand sailor.
5% sales tax on consumer goods and services goes into effect in the USSR
The history of the United States from 1980 until 1991 includes the last year of the Jimmy Carter presidency, eight years of the Ronald Reagan administration, and the first three years of the George...
Baseball officially bans Pete Rose from being elected to the Hall of Fame for betting on baseball
Peter Edward Rose Sr. (April 14, 1941 – September 30, 2024), nicknamed "Charlie Hustle", was an American professional baseball player and manager.
Operation Desert Storm begins, with US-led coalition forces bombing Iraq, during the Gulf War
The Gulf War was an armed conflict between Iraq and a 42-country coalition led by the United States.
CBS News correspondent Bob Simon and four TV crew members are captured and held for 40 days by Iraqi forces during the G
CBS News correspondent Bob Simon and four TV crew members are captured and held for 40 days by Iraqi forces during the Gulf War
More from the 1990s
birth
Bryson Tiller is born
Bryson Tiller musician, known for american singer, was born on 1993-01-02. Bryson Djuan Tiller is an American R&B singer and rapper.
death
Alan Hale Jr. dies
Alan Hale Jr., American actor, known for american actor, died on 1990-01-02. Alan Hale Jr. was an American actor and restaurateur.
birth
Poppy [Moriah Rose Pereira] is born
Poppy [Moriah Rose Pereira] is born
birth
Peter Burling is born
Peter Burling, New Zealand athlete, known for new zealand sailor, was born on 1991-01-01. Peter Burling is a New Zealand sailor.
Frequently Asked Questions
- What happened on January 16, 1990?
- Money laundering is the process of illegally concealing the origin of money obtained from illicit activities (often known as dirty money) such as drug trafficking, sex work, terrorism, corruption, and embezzlement, and converting the funds into a seemingly legitimate source, usually through a front organization. Money laundering is ipso facto illegal; the acts generating the money almost always are themselves criminal in some way (for if not, the money would not need to be laundered). As financial crime has become more complex and financial intelligence is more important in combating international crime and terrorism, money laundering has become a prominent political, economic, and legal debate.
- Why is Two members of the Bank of Credit and Commerce International plead guilty to ... historically important?
- Money laundering is ipso facto illegal; the acts generating the money almost always are themselves criminal in some way (for if not, the money would not need to be laundered). As financial crime has become more complex and financial intelligence is more important in combating international crime and terrorism, money laundering has become a prominent political, economic, and legal debate.